
At the top end of many markets a small and decreasing number of firms are winning an increasing share of the highest value work. In this part of the market the leading UK and US international firms are particularly strong, having developed a powerful position, sometimes by means of merger and sometimes through organic growth; alongside them are the leading national firms.
Clearly the international reach of the UK and US firms is a particular competitive strength on that work that requires a multi-jurisdictional capability but so too is their founding, based on a common law approach. Their strength however goes deeper than this and most are also noted for their capability to assemble quickly large teams that work together effectively, their overall strength in breadth and depth and the commerciality of their approach: clients see these firms delivering quite simply a materially more valuable service and while their fees are higher, this is considered a price worth paying for matters of the highest strategic, competitive, financial or reputational importance.
For certain matters there are also niche players in many markets who, within their areas of focus, are generally able to compete with the leading firms and may also compete for certain mid-value work also within their specialisms.
At the opposite end of the market, it is increasingly possible to identify firms that are focused on particular types of lower value work (eg. volume insurance defence matters, routine real estate work, and the like). They too are building capabilities, in the main based on a ‘process oriented' approach to delivering legal services, that makes them highly competitive for certain types of work, not only on the basis of fees but also in terms of factors such as responsiveness and overall service delivery.
The competitive strength of these firms at both the top and lower value segments of the market is considerable and in certain jurisdictions the leading firms in these segments have in effect created ‘barriers to entry' by performing at a level that makes it virtually impossible for other firms not already competing effectively in that segment to match their performance and hence become a member of the leading group.
The segmentation at the top and lower value ‘ends' of the market has led to even higher levels of competition in the mid-value segment of the market and in most jurisdictions the trends indicate that considerable rationalisation of firms will occur here; this rationalisation is likely to become increasingly evident over the next two to four years with a markedly reduced number of firms competing in this sector within five years or so.
In most jurisdictions there are likely to be two groups of firms emerging from this rationalisation: those competing in the upper mid-market and those that are mainstream mid-market firms. Currently in many jurisdictions there are a relatively larger number of firms competing in the mid-market and these are not in general that clearly differentiated from one another.
There is, however, already a clear group emerging in some jurisdictions seeking to compete just below the leading group of firms, focused on capturing an increasing share of the highest value work – both transactional and non-transactional that does not require the unique capabilities and reputation of the leading group. In some markets such as the UK there are as many as 30 firms competing to succeed in the upper mid-market and it is realistic to assume that, say, only a third or so of these will succeed in this sector in the medium-term. That there will not be the level of upper-mid value work to support the aspirations of such a number of firms is one reason that they will not all succeed. A second reason is that, as in any competitive market, some providers will develop ways of better meeting the expectations of clients than others and as this becomes recognised by the market will lead to those firms winning an increasing share of the upper-mid value work at the expense of others.
Below the upper-mid market is the mainstream mid-market and this at present is comprised of a great number of relatively undifferentiated firms in most markets. Some such firms are relatively focused in terms of providing a limited range of mid-value services (such as IP or employment) while others offer a much broader range of corporate, commercial, litigation, tax, real estate, banking and finance services.
Again, over time, this part of the market is likely to split into a group of ‘winners' and a group of ‘also rans' with the former group developing approaches to meeting the needs and expectations of clients that are recognised by the market as superior.
Some of the winners in this segment of the market will have a geographically restricted reach, perhaps servicing predominantly a local regional client base from a single office location. Others will have a national, or possibly even multi-jurisdictional capability, servicing clients over a much wider geographic area.
The competitive pressure that the firms in the mid-market will face will be intense, driven by the very sophisticated approaches adopted by clients in their purchasing of services.
One dimension of the competition will be on price: clients are increasingly confident of the fees they should pay for particular services based in part on the perceived value of that service to their business and in part on the ‘market going rates' being offered by competing firms vying for their instructions.
This price competition will force firms to redesign, and potentially in a radical way, the approach they take to producing and delivering services: if market forces dictate that a particular service will command a fee of, say, €10,000 then firms must develop ways to manufacture and supply that service for €7,000 if they are to achieve the desired margin of, say, 30%.
This requires a change in mindset and the development of new skills in many firms or the high likelihood of the loss of clients and / or erosion of margins and hence profitability. As in the manufacturing sector of the economy there will be an increasing focus on managing the ‘costs of manufacture' and this will result in the need for a fundamental re-examination of the underlying business model, modus operandi and cost base of law firms.
A second dimension of the competition will be around the extent to which firms genuinely understand and meet the expectations of their clients. In the mid-market those firms that are perceived as strong technically but providing little if any commerciality in the way they provide services are already finding their market position slipping. Even those firms of this ilk that meet clients' timing and budgetary expectations, are responsive and accurate in what they provide and are highly accessible will find themselves under more and more pressure as they will be servicing clients only on a par with other firms.
The challenge for firms wishing to be among the winners in terms of meeting client expectations will revolve around their perceived success in developing a range of higher level capabilities and characteristics including:
- being highly business oriented
- developing truly commercial solutions
- being flexible and anticipatory
- providing genuine insights into issues
- extraordinary service capabilities
- seamless teamwork
- innovation
A third dimension of the competition will concern the extent to which clients perceive their advisers to be committed to their business success. Rightly professional advisers need to maintain an independent objectivity; at the same time, however, clients will expect a genuine dedication to service delivery – going the extra mile as a matter of routine.
This requires firms to develop and maintain extraordinary high levels of motivation and morale amongst both their lawyers and support staff to ensure that clients do receive the level of commitment they expect. As a legal director in a large corporate explained “I want my advisers to be as committed to my company's success as I am – that way we all benefit”.
Over the next few years the segmentation that has been occurring in certain segments of the market will become more and more apparent in the mid-market, with a limited number of firms in each of the upper mid-market and mainstream mid-market emerging as winners, attracting the proportion of better clients and work they desire and managing this in a way that delivers competitive levels of profitability.
For those firms that are unable to meet the market's expectations as effectively, the future is less attractive, with some practices being squeezed into less attractive positions, others being ‘absorbed' and a third group perhaps failing altogether.
In overall terms the outlook and prospects remain promising but achieving success in the future will require a level of competitiveness higher and broader than required for success in the past.
How to Hire a Legal Recruiter for Your Law Firm: How Law Firms Recruit Attorneys Using Legal Recruiters |
About Harrison Barnes
No legal recruiter in the United States has placed more attorneys at top law firms across every practice area than Harrison Barnes. His unmatched expertise, industry connections, and proven placement strategies have made him the most influential legal career advisor for attorneys seeking success in Big Law, elite boutiques, mid-sized firms, small firms, firms in the largest and smallest markets, and in over 350 separate practice areas.
A Reach Unlike Any Other Legal Recruiter
Most legal recruiters focus only on placing attorneys in large markets or specific practice areas, but Harrison places attorneys at all levels, in all practice areas, and in all locations-from the most prestigious firms in New York, Los Angeles, and Washington, D.C., to small and mid-sized firms in rural markets. Every week, he successfully places attorneys not only in high-demand practice areas like corporate and litigation but also in niche and less commonly recruited areas such as:
- Immigration Law
- Workers Compensation
- Insurance
- Family Law
- Trust and Estate
- Municipal law
- And many more...
This breadth of placements is unheard of in the legal recruiting industry and is a testament to his extraordinary ability to connect attorneys with the right firms, regardless of market size or practice area.
Proven Success at All Levels
With over 25 years of experience, Harrison has successfully placed attorneys at over 1,000 law firms, including:
- Top Am Law 100 firms such including Sullivan and Cromwell, and almost every AmLaw 100 and AmLaw 200 law firm.
- Elite boutique firms with specialized practices
- Mid-sized firms looking to expand their practice areas
- Growing firms in small and rural markets
He has also placed hundreds of law firm partners and has worked on firm and practice area mergers, helping law firms strategically grow their teams.
Unmatched Commitment to Attorney Success - The Story of BCG Attorney Search
Harrison Barnes is not just the most effective legal recruiter in the country, he is also the founder of BCG Attorney Search, a recruiting powerhouse that has helped thousands of attorneys transform their careers. His vision for BCG goes beyond just job placement; it is built on a mission to provide attorneys with opportunities they would never have access to otherwise. Unlike traditional recruiting firms, BCG Attorney Search operates as a career partner, not just a placement service. The firm's unparalleled resources, including a team of over 150 employees, enable it to offer customized job searches, direct outreach to firms, and market intelligence that no other legal recruiting service provides. Attorneys working with Harrison and BCG gain access to hidden opportunities, real-time insights on firm hiring trends, and guidance from a team that truly understands the legal market. You can read more about how BCG Attorney Search revolutionizes legal recruiting here: The Story of BCG Attorney Search and What We Do for You.
The Most Trusted Career Advisor for Attorneys
Harrison's legal career insights are the most widely followed in the profession.
- His articles on BCG Search alone are read by over 150,000 attorneys per month, making his guidance the most sought-after in the legal field. Read his latest insights here.
- He has conducted hundreds of hours of career development webinars, available here: Harrison Barnes Webinar Replays.
- His placement success is unmatched-see examples here: Harrison Barnes' Attorney Placements.
- He has created numerous comprehensive career development courses, including BigLaw Breakthrough, designed to help attorneys land positions at elite law firms.
Submit Your Resume to Work with Harrison Barnes
If you are serious about advancing your legal career and want access to the most sought-after law firm opportunities, Harrison Barnes is the most powerful recruiter to have on your side.
Submit your resume today to start working with him: Submit Resume Here
With an unmatched track record of success, a vast team of over 150 dedicated employees, and a reach into every market and practice area, Harrison Barnes is the recruiter who makes career transformations happen and has the talent and resources behind him to make this happen.
A Relentless Commitment to Attorney Success
Unlike most recruiters who work with only a narrow subset of attorneys, Harrison Barnes works with lawyers at all stages of their careers, from junior associates to senior partners, in every practice area imaginable. His placements are not limited to only those with "elite" credentials-he has helped thousands of attorneys, including those who thought it was impossible to move firms, find their next great opportunity.
Harrison's work is backed by a team of over 150 professionals who work around the clock to uncover hidden job opportunities at law firms across the country. His team:
- Finds and creates job openings that aren't publicly listed, giving attorneys access to exclusive opportunities.
- Works closely with candidates to ensure their resumes and applications stand out.
- Provides ongoing guidance and career coaching to help attorneys navigate interviews, negotiations, and transitions successfully.
This level of dedicated support is unmatched in the legal recruiting industry.
A Legal Recruiter Who Changes Lives
Harrison believes that every attorney-no matter their background, law school, or previous experience-has the potential to find success in the right law firm environment. Many attorneys come to him feeling stuck in their careers, underpaid, or unsure of their next steps. Through his unique ability to identify the right opportunities, he helps attorneys transform their careers in ways they never thought possible.
He has worked with:
- Attorneys making below-market salaries who went on to double or triple their earnings at new firms.
- Senior attorneys who believed they were "too experienced" to make a move and found better roles with firms eager for their expertise.
- Attorneys in small or remote markets who assumed they had no options-only to be placed at strong firms they never knew existed.
- Partners looking for a better platform or more autonomy who successfully transitioned to firms where they could grow their practice.
For attorneys who think their options are limited, Harrison Barnes has proven time and time again that opportunities exist-often in places they never expected.
Submit Your Resume Today - Start Your Career Transformation
If you want to explore new career opportunities, Harrison Barnes and BCG Attorney Search are your best resources. Whether you are looking for a BigLaw position, a boutique firm, or a move to a better work environment, Harrison's expertise will help you take control of your future.
Submit Your Resume Here to get started with Harrison Barnes today.
Harrison's reach, experience, and proven results make him the best legal recruiter in the industry. Don't settle for an average recruiter-work with the one who has changed the careers of thousands of attorneys and can do the same for you.
About BCG Attorney Search
BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.
Harrison Barnes does a weekly free webinar with live Q&A for attorneys and law students each Wednesday at 10:00 am PST. You can attend anonymously and ask questions about your career, this article, or any other legal career-related topics. You can sign up for the weekly webinar here: Register on Zoom
Harrison also does a weekly free webinar with live Q&A for law firms, companies, and others who hire attorneys each Wednesday at 10:00 am PST. You can sign up for the weekly webinar here: Register on Zoom
You can browse a list of past webinars here: Webinar Replays
You can also listen to Harrison Barnes Podcasts here: Attorney Career Advice Podcasts
You can also read Harrison Barnes' articles and books here: Harrison's Perspectives
Harrison Barnes is the legal profession's mentor and may be the only person in your legal career who will tell you why you are not reaching your full potential and what you really need to do to grow as an attorney--regardless of how much it hurts. If you prefer truth to stagnation, growth to comfort, and actionable ideas instead of fluffy concepts, you and Harrison will get along just fine. If, however, you want to stay where you are, talk about your past successes, and feel comfortable, Harrison is not for you.
Truly great mentors are like parents, doctors, therapists, spiritual figures, and others because in order to help you they need to expose you to pain and expose your weaknesses. But suppose you act on the advice and pain created by a mentor. In that case, you will become better: a better attorney, better employees, a better boss, know where you are going, and appreciate where you have been--you will hopefully also become a happier and better person. As you learn from Harrison, he hopes he will become your mentor.
To read more career and life advice articles visit Harrison's personal blog.